Apple iPhone records its highest smartphone shipment in India in Q3 2023; Samsung on top
Apple has reached a new milestone in Q3 2023 as its shipment crossed 2.5 million units in India. Despite a flat year-on-year growth, Samsung retains its top position in the market.
Apple has reached a new milestone, just days after its Scary Fast event where the company launched new Mac devices. Unsurprisingly, it was the iPhone that took Apple to this accomplishment. According to a report, Apple has recorded its highest-ever quarterly smartphone shipments during Q3 2023 (July-September). Even as Apple broke new ground, it was Samsung that led this quarter with the highest shipments. The Indian smartphone market also displayed signs of recovery when after a year of decline, it finally showed signs of gradual picking up.
According to the latest research from Counterpoint's Monthly India Smartphone Tracker, Apple recorded its highest-ever quarterly shipments, crossing 2.5 million units. Samsung held its top position in the market with a market share of 17.2 percent.
One interesting highlight to come from the report was, “In Q3 2023, the share of 5G smartphone shipments reached 53%. The main growth driver was OEMs pushing multiple launches in the INR 10,000-INR 15,000 (~$120-$180) segment. The 5G penetration reached 35% in this segment, compared to 7% in Q3 2022”.
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Apple reaches a new smartphone milestone in Q3 2023
The main driver for Apple's growth in this quarter is the launch of the iPhone 15 series. Additionally, the domestic assembly of the iPhone 15 and iPhone 15 Plus was also one of the main reasons for the higher shipments. The increased number of shipments also shows the company's belief was correct in that the Indian market can be a growing consumer base.
Commenting on the market dynamics, Senior Research Analyst Shilpi Jain told Counterpoint, “In Q3 2023, OEMs focussed on launching new devices and kept filling in channels to prepare for the festive season ahead. We saw some interesting launches, with key features like 5G and higher RAM (8GB) diffusing to affordable smartphones (sub-INR 10,000, ~$120). The premium segment and 5G were the two focus areas and saw multiple launches. Many OEMs are now coming up with interesting financing schemes through partnerships with financial institutions and by marketing the per-day cost of buying a new device. The market is gradually moving towards growth and we are witnessing positive consumer sentiment during festive season sales. India's smartphone market will experience growth in the coming quarter due to pent-up demand, elongated festive season and faster 5G upgrades”.